Envestnet Asset Management Inc. Grows Stock Holdings in Federal Signal Co. (NYSE:FSS)

Envestnet Asset Management Inc. grew its holdings in Federal Signal Co. (NYSE:FSS) by 5.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,323 shares of the conglomerate’s stock after acquiring an additional 8,337 shares during the period. Envestnet Asset Management Inc.’s holdings in Federal Signal were worth $13,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Federal Signal by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,786,204 shares of the conglomerate’s stock valued at $575,945,000 after purchasing an additional 106,899 shares during the period. Norges Bank acquired a new position in Federal Signal during the 4th quarter worth approximately $52,130,000. Global Alpha Capital Management Ltd. boosted its holdings in Federal Signal by 13.0% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 616,913 shares of the conglomerate’s stock worth $52,357,000 after acquiring an additional 71,200 shares during the period. Putnam Investments LLC grew its position in Federal Signal by 3.2% in the fourth quarter. Putnam Investments LLC now owns 524,962 shares of the conglomerate’s stock valued at $40,286,000 after acquiring an additional 16,049 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Federal Signal by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 524,869 shares of the conglomerate’s stock valued at $43,916,000 after purchasing an additional 11,685 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Insider Activity

In related news, Director Brenda Reichelderfer sold 25,685 shares of Federal Signal stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $92.99, for a total value of $2,388,448.15. Following the completion of the transaction, the director now directly owns 57,417 shares in the company, valued at $5,339,206.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Federal Signal Stock Up 1.0 %

Shares of NYSE FSS opened at $92.91 on Wednesday. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 31.39 and a beta of 0.94. Federal Signal Co. has a 1 year low of $57.05 and a 1 year high of $102.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 2.89. The stock’s 50-day simple moving average is $92.28 and its 200-day simple moving average is $87.29.

Federal Signal (NYSE:FSS) last announced its earnings results on Thursday, July 25th. The conglomerate reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.11. Federal Signal had a return on equity of 18.31% and a net margin of 11.16%. The company had revenue of $490.40 million for the quarter, compared to analyst estimates of $487.74 million. During the same period in the prior year, the company posted $0.67 EPS. Federal Signal’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Federal Signal Co. will post 3.24 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, August 16th. Federal Signal’s payout ratio is currently 16.22%.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on shares of Federal Signal in a report on Friday, May 31st. They set an “outperform” rating for the company.

Federal Signal Profile

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.